RTA's Salik to sell 1.5 billon shares in IPO. The road-toll operator is looking to raise around $1 billion for the shares.
06 September 2022, 12:00 AM
31 October 2022, 12:00 AM
Dubai’s road-toll operator Salik on Monday announced that it will sell 1.5 billion shares, or a 20 per cent stake, to retail, institutional investors and employees this month.
Comprising individual subscribers, professional investors and eligible employees, the subscriptions will open on September 13 and end on September 20 for retail investors and till September 21 for qualified investors.
The company is likely to list on the Dubai Financial Market (DFM) around September 29.
Investors can subscribe to shares through Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, MBank and Sharjah Islamic Bank.
The company will announce per share price just ahead of the launch of the IPO on September 13.
Salik is a highly safe and profitable investment as the Government of Dubai will own a majority stake in the company. On Monday, Salik said it will sell 20 per cent and an 80 per cent stake will be controlled by the government.